Investment & Capital Corporation of the Philippines (ICCP) was cited during the recent The Asset Triple A Country Awards for Sustainable Finance 2022 for its participation as bookrunner in the P6.4-billion initial public offering (IPO) of Citicore Energy REIT Corporation (CREIT). The offering was recognized as the Best IPO in the Philippines during the awards.
According to The Asset, CREIT “is the first renewable energy-focused real estate investment trust (REIT) in the Philippines and the first non-real estate company to list via REIT in the Philippine Stock Exchange (PSE). As such, it was structured differently from other local REITs as all deposited properties are leased out to renewable energy generators.”
“We are happy to be part of this pioneering deal which supports the growth of renewable energy with its unique structure in support of climate finance,” said ICCP President & CEO Valentino S. Bagatsing. ICCP believes that the capital markets remain a viable option to raise long term funds for the expansion of businesses and in institutionalizing ESG initiatives.
The Asset‘s annual Triple A award is the most prestigious award in the industry for banking, finance, treasury, and capital markets. In addition to the key transactions, The Asset is recognizing a number of regional issuers and advisers for their roles in leading landmark deals and advancing the ESG conversation.